Today’s economy is difficult whether you own a dollarstore or not. It seems like everywhere you look there tales of doom and gloom. Yet there are also stories of business growth and success. This is the right time to take a step back and determine which story you want to be. If you are like me, your goal is to be the story of success. It is to capitalize on today’s opportunities and grow your business. If that’s the case, read on. In this article I present today is the perfect time to grow your dollar store profits.

Examine the marketplace. Start by getting closer to your targeted shoppers. What are the products they seek? What are the products they pass-up in today’s environment? What products would they purchase routinely if you carried them?

Modify your business to accommodate the changes they present. Eliminate products that sell slowly or not at all. Add products and services they seek. Do everything possible to make your dollarstore the shopping destination of choice for your customers.

Focus on consumables. There is a core set of products almost all shoppers need and want when they come to your location. It is consumables. These include paper products, household detergents and cleaners, hand soap, basic health and beauty items and more. Be sure you always have a good selection of these products in-stock for your shoppers. Stay connected to your shoppers and modify the selection accordingly. Add or delete products based on their needs and wants.

Negotiate with every one of your suppliers. It doesn’t matter what product or service they provide to your dollarstore. Now is the time to become a negotiator and a value shopper yourself. Shop vendor sales. Ask for discounts. After all you might land an unexpected discount, and the worse that can happen is you will be told no discounts will be give. Look for ways to stretch your dollar further by bringing tasks inside your business. For example, can you clean windows or floors more cheaply than having a vendor do it? If so, consider doing it yourself.

Aggressively build your dollarstore sales levels. While most store owners will stop marketing, now’s the time for you to be aggressive; be sure you are also wise in the actions you take. Conduct in-store events, advertise and promote your business, and get involved in the community. Keep your store’s name out in front of everyone. Measure your success in shopping frequency and increases in average sale size.

To your dollarstore success!